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Noricum Gold adds listing on Frankfurt Stock Exchange


Austria-focused Noricum Gold (LON:NMG) has added a listing on the Frankfurt Stock Exchange to its presence on AIM, where it has been quoted since the end of 2010.

The move was in response to significant interest and demand from European investors, the group said in a statement.

The shares will trade in Frankfurt under the symbol ‘NOG’.

The board believes that a Frankfurt listing will benefit existing shareholders by making the company's shares more accessible to European investors. 

Additionally, the listing will provide Noricum Gold with increased visibility within the region where its 171 square kilometre Austrian gold and precious metals portfolio, including its flagship 51 square kilometre Rotgülden project. 

Rotgülden is located in south-west Austria. In all there are 15 former underground mines that produced gold, silver and copper. 

Drilling by previous explorers revealed gold grades of between 5 and 44 grams per tonne, and Noricum’s drilling operations so far have confirmed bonanza gold and silver grades across the project. It is currently progressing towards defining a maiden resource at Rotgülden.

Rotgülden is one of five Austrian licence areas held by Noricum, which bought them from a private company called Kibe Investments in late 2010. The others are Kliening, Schönberg, Goldeck and Goldzeche.

After Rotgülden, the most advanced project is Kliening, near Graz.

Noricum Gold managing director Greg Kuenzel said: "We are delighted that our shares have commenced trading on the Frankfurt stock exchange following highly positive feedback from regional investors, and we are confident that this will enable us to expand our European shareholder base going forward.  

2012 is set to be extremely productive for the company as we focus on delineating a Maiden JORC resource at the previously producing Rotgülden mine as well as further strengthening our understanding of the wider regional potential of the asset.”

Quick facts: Empire Metals Ltd

Price: 4.2325 GBX

Market: AIM
Market Cap: £10.71 m

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